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Starwood signs 220 new hotels & adds 105 hotels to its operating portfolio in 2015

Thursday, January 7, 2016, 11:00 Hrs  [IST]
By HB Staff | New Delhi

Starwood Hotels & Resorts announced that it closed 2015 with 220 new signed hotel management and franchise agreements, a 26% increase over the prior year, marking the sixth consecutive year of increased signings and the most incremental signings in its history.

The company also opened a record of 105 hotels in 2015, representing approximately 22.5k rooms in 30 countries, also the highest number of openings in its history. Starwood’s strongest year of organic openings in history allowed the company to reach the milestone of 300th hotel in Asia Pacific in 2015.

The select serve or mid-market segment drove last year’s signings, accounting for slightly more than 50%. While Four Points by Sheraton continues to maintain the company’s largest pipeline, Aloft experienced incredible growth momentum last year with a 65% increase in signings over the prior year.

At the same time, Starwood lengthened its lead in the luxury and lifestyle segment, with 29 deals across its St. Regis, The Luxury Collection and W Hotels brands, an increase of almost 40% over the prior year. The company continues to see luxury demand in all corners of the world with new hotels coming to sought-after destinations like Dubai, Maldives, Punta de Mita and Shanghai, following flagship openings last year in Amsterdam, Mumbai, and Prague.

In the upper-upscale segment, Sheraton, Starwood’s largest and most global brand, had signings that were up over 40% compared to the prior year. The company’s newest brand, Tribute Portfolio, which launched in Q2 2015, finished the year with 16 hotels either operating or with signed agreements.

 
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